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Dec 28, 2012
12/12
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WBAL
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the same, i think, except for those with need-to-know in the pentagon and cia and certainly the white house. so i just felt a personal responsibility to keep it close, but that meant that i was basically, you know, having to consult with myself, to be honest. >> keeping this secret also meant going on about the business of presidency, touring that awful storm damage in alabama while knowing at athat very moment u.s. navy s.e.a.l.s were already the on the move halfway around the world. you had to go to tuscaloosa? >> yes. >> you had to go have fun at the correspondents dinner? >> yes. >> seth meyers makes a joke about osama bin laden. >> did you know that every day from 4:00 to 5:00 he hosts a show on c-span? >> how do you keep an even keel, even when we look back on the videotape of that night, there's no real depiction there's something afoot? >> you know, when i go down to tuscaloosa, i'm very much present there, because the tragedy and the devastation that had happened to the folks there, i think, consumed all my attention. so that wasn't difficult to focus on. the correspondents d
the same, i think, except for those with need-to-know in the pentagon and cia and certainly the white house. so i just felt a personal responsibility to keep it close, but that meant that i was basically, you know, having to consult with myself, to be honest. >> keeping this secret also meant going on about the business of presidency, touring that awful storm damage in alabama while knowing at athat very moment u.s. navy s.e.a.l.s were already the on the move halfway around the world. you...
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Dec 22, 2012
12/12
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CSPAN
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i do not think so. >> the pentagon -- why hasn't the pentagon taken any steps since this book went on sale in september? >> you know, i think the seals have a commitment. a they're going to write book, they need to pass it by the pentagon. they did not do that. that violates an oath that they took when they became seals. as for the other author, i'm not sure what that was. >> israeli leaders said they may act against iran if they feel like a nuclear program has gone too far. is the u.s. willing to use a financial lever to prevent a unilateral strike? >> one thing that the u.s. and israel have kind to an agreement on is a goal in regards to iran. neither country wants iran to develop a nuclear weapon. the united states has made that clear. israel has made that clear. we continue to put pressure on iran. we continue to put diplomatic sanctions on iran and penalize its efforts to develop a nuclear capability. they and the result of that is to push them to the negotiation table and try to solve issues diplomatically. war ought to be the last option and not the first. we should exhaust eve
i do not think so. >> the pentagon -- why hasn't the pentagon taken any steps since this book went on sale in september? >> you know, i think the seals have a commitment. a they're going to write book, they need to pass it by the pentagon. they did not do that. that violates an oath that they took when they became seals. as for the other author, i'm not sure what that was. >> israeli leaders said they may act against iran if they feel like a nuclear program has gone too far....
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Dec 28, 2012
12/12
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CNNW
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it is a very rare thing for the president to call over to the pentagon and have to say, what is going on? >> and i'm curious about that. how did that even get on the president's desk? how did he get involved in a day care situation on a military base? >> this is mid-december and this is when the country's focus was on child safety after the massacre and the tragedy in newtown, connecticut. the secretary of defense leon panetta finds out about all this because finally army leaders know the facts and are able to tell him. e he take s it to the president. but it's between late september and mid-december that they keep investigating the other workers here and find those background check problems and they are not dismissed from their jobs between september and mid-december. this goes on and on and on. all of this now the subject of a complete army investigation. >> barbara starr, we're glad you're looking into it. you can watch barbara's entire report tonight at 7:00 p.m. eastern. barbara, thank you. >>> former president george h.w. bush may be battling a fever, but he's certainly showing
it is a very rare thing for the president to call over to the pentagon and have to say, what is going on? >> and i'm curious about that. how did that even get on the president's desk? how did he get involved in a day care situation on a military base? >> this is mid-december and this is when the country's focus was on child safety after the massacre and the tragedy in newtown, connecticut. the secretary of defense leon panetta finds out about all this because finally army leaders...
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Dec 24, 2012
12/12
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. >> in other news the pentagon says joe w. price, leader of s.e.a.l. team 4 was found dead yesterday. the initial conclusion is he committed suicide. the navy is investigating now. >>> hours ago in hawaii senator daniel inouye was laid to rest. he represented hawaii in washington for five decades since hawaii became a state in 1959. the 88-year-old senator was a war hero. he lost his arm. president obama attended the funeral. the president said he was his political inspiration. those are your headlines. i'm don lemon. >>> it was one of the most important diplomatic missions in history. also one of the most clandestine and risky. four decades ago, henry kissinger, then president nixon's national security advise secretly flew to china, beginning a string of meetings that would eventually open that isolated eastern nation to the western world. that opening checked soviet expansionism and in a sense was the beginning of the end of the cold war. >> this was the week that changed the world. >> it was also the beginning of china's entry into the world economy
. >> in other news the pentagon says joe w. price, leader of s.e.a.l. team 4 was found dead yesterday. the initial conclusion is he committed suicide. the navy is investigating now. >>> hours ago in hawaii senator daniel inouye was laid to rest. he represented hawaii in washington for five decades since hawaii became a state in 1959. the 88-year-old senator was a war hero. he lost his arm. president obama attended the funeral. the president said he was his political inspiration....
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Dec 22, 2012
12/12
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MSNBCW
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to have another nominee, perhaps the president's preferred candidate for the pentagon, secretary of defense, premptively challenged is remarkable and extraordinary. one other point that needs to be made regardless of who becomes secretary of defense, barack obama is most withholding president since richard nixon. there's no question about that. all power on the consequential issues of war and peace, afghanistan, iraq, the war on terror, big think strategy in iran, the israeli palestinian peace process, during his first term came in and out of the white house. secretary clinton, we'll never know whether she could be a consequential great secretary of state because the presidential essentially dominates. he does not delegate. and the reality is both at state and defense, the interesting question will be it seems to me on whether or not in the second term the president will allow his national security team to actually help shape the policy that the president validates and authorizes. >> that is a very interesting point. i had not heard that before. i have heard other things that make me think
to have another nominee, perhaps the president's preferred candidate for the pentagon, secretary of defense, premptively challenged is remarkable and extraordinary. one other point that needs to be made regardless of who becomes secretary of defense, barack obama is most withholding president since richard nixon. there's no question about that. all power on the consequential issues of war and peace, afghanistan, iraq, the war on terror, big think strategy in iran, the israeli palestinian peace...
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Dec 29, 2012
12/12
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FOXNEWSW
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mandatory spending cuts putting pressure on the pentagon. can it still do the job of protecting america if a zeal not reached in washington? >> gregg: just days after a major storm, a nay one is following right on its heels. we're tracking the latest. >> and reading, writing and guns new push to protect our kids in schools after the sandy hook tragedy. >> it is legal in utah. >> i actually brought a holster but nobody would know i could easily git get it and stays on me all day. card gives you 1% cash back on all purchases, plus a 50% annual bonus. and everyone...but her likes 50% more cash. but i'm upping my game. do you want a candy cane? yes! do you want the puppy? yes! do you want a tricycle? yes! do you want 50 percent more cash? no! ♪ festive. [ male announcer ] the capital one cash rewards card gives you 1% cash back on every purchase plus a 50% annual bonus on the cash you earn. it's the card for people who like more cash. what's in your wallet? vision expanding to a 5-inch 1080p hd display and camera. touch acquiring nfc. hearing
mandatory spending cuts putting pressure on the pentagon. can it still do the job of protecting america if a zeal not reached in washington? >> gregg: just days after a major storm, a nay one is following right on its heels. we're tracking the latest. >> and reading, writing and guns new push to protect our kids in schools after the sandy hook tragedy. >> it is legal in utah. >> i actually brought a holster but nobody would know i could easily git get it and stays on me...
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Dec 30, 2012
12/12
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FOXNEWSW
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if you ask liberal people they say yes cut the pentagon deeply. conservative people say cut welfare programs deeply. they both agree that cuts are the way to go but wouldn't agree on what what to cut. republican ares talk about the need to reduce spending they are necessarily talking about things that people don't want to hear about. medicare and sociali car and security and it gives them an opportunity to play the scare game. >> shannon: if democrats get more is spending and more revenue which it seems they will get that eventually then people were asked in the fox news polling again where do you think the dollars going to go, all the extra money. 53% say more spending. only 36% say it is actually going to do anything to decrease the deficit. how are the two parties going to answer for that when it comes to fruition? >> they won't. remember this. just go in the way back machine and think about after the election the republicans came back to washington and said we want to give you more you call it in washington you call it revenue when you are inc
if you ask liberal people they say yes cut the pentagon deeply. conservative people say cut welfare programs deeply. they both agree that cuts are the way to go but wouldn't agree on what what to cut. republican ares talk about the need to reduce spending they are necessarily talking about things that people don't want to hear about. medicare and sociali car and security and it gives them an opportunity to play the scare game. >> shannon: if democrats get more is spending and more revenue...
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Dec 23, 2012
12/12
by
CSPAN2
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eye 162
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when the spending requests came in, he said, i know the boys at the pentagon. he believed real national security was from a sound economy. he was a deficit hawk, boy, we could use him today, who controlled government spending and taxes. the famous speech warning against the industrial complex was at the end of the presidency, but worked on it all along behind the scenes. heaven help us he liked to say when we get a president who knows less about the military than i do. it was not about the economy or saving money. in the berlin crisis and earlier crisis with korea and vietnam in 1953 over the strait in 1954-55 and 1958 in the suez crisis in 1956, he was planning a bigger gain for higher stakes. west point cadet and young army officer, ike was a great poker player, and, indeed, so good, he had to give it up. he was taking too much money from the fellow officers hurting his career. he switched to bridge, but he never forgot how to bluff. the soviets, he bluffed with nuclear weapons. as only a real warrior can, ike hated war. curiously, the great war hero was neve
when the spending requests came in, he said, i know the boys at the pentagon. he believed real national security was from a sound economy. he was a deficit hawk, boy, we could use him today, who controlled government spending and taxes. the famous speech warning against the industrial complex was at the end of the presidency, but worked on it all along behind the scenes. heaven help us he liked to say when we get a president who knows less about the military than i do. it was not about the...
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just we have the united states we have another country living side by side with it it's called the pentagon and there's just no controlling it it's gone out of hand it's forty percent of our budget it goes to intelligence security and military. and there's also wall street which is another beast which has its own ethic so i think we also was a three countries living side by side tentacles reaching far across the aisle of our let's talk about nixon your portrayal of nixon was that he was a criminal i mean the cia is portrayed as this evil entity almost the supernatural entity or you know one point the movie the director of the cia is even threatening to kill. people who say that you were too forgiving of bush and your movie w but i don't see that in nixon that the cia director tried to kill dick said we would that we hinted at there was a controversy between helms richard helms and nixon and part of the problems was the cuban papers and what you are it's a dirty story the cia was we nicknamed sometimes capitalisms invisible army goes back to one thousand nine hundred. and the cia has misused
just we have the united states we have another country living side by side with it it's called the pentagon and there's just no controlling it it's gone out of hand it's forty percent of our budget it goes to intelligence security and military. and there's also wall street which is another beast which has its own ethic so i think we also was a three countries living side by side tentacles reaching far across the aisle of our let's talk about nixon your portrayal of nixon was that he was a...
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Dec 23, 2012
12/12
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CSPAN2
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when the spending request came in, ike would say i know those boys down at the pentagon. ike believed the real national security came from a sound economy. he was a deficit hawk. he controlled government spending and package. his famous speech warning against military-industrial complex came at the end of his presidency but, in fact, he been working on it all a long. mostly behind the scenes. heaven help us, he liked to say, that we'll get a president who knows less about the military than i do. this approach to the military was not just about the economy. in the berlin crisis in 58-59 and in early crisis with korea and vietnam in 1953, 54, the almost straight, the suez crisis in 1956, eisenhower was playing a bigger game for higher stakes. a west point cadet and a young army officer, ike had been a great poker player. indeed, he was so good that he had to give it up. he was taking too much money from his fellow officers and it was hurting his career. he switched to bridge, but he never forgot how to block it with the soviets he bluffed with nuclear weapons. as only a rea
when the spending request came in, ike would say i know those boys down at the pentagon. ike believed the real national security came from a sound economy. he was a deficit hawk. he controlled government spending and package. his famous speech warning against military-industrial complex came at the end of his presidency but, in fact, he been working on it all a long. mostly behind the scenes. heaven help us, he liked to say, that we'll get a president who knows less about the military than i...
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Dec 29, 2012
12/12
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CSPAN
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. >> did the pentagon have review? >> no, didn't have fop once i'm retired from active due any i don't have to submit it to the pentagon unless i use classified information. so i avoided using any classified information but a lot of stuff was declassified right after the war. a lot of stuff was a matter of public record. so i had a great deal of material. the best thing i had was this, any war i ever fought most of instructions were sent by message back and forth. so you have hard copy record of every decision made. because of where we are today most of the orders and instructions are seventh back and forth by secured telephone. it became apparent that we're not going have a record of the decisions made unless we have a record ourselves. any time i had a conversation i wrote down what i said and what is being said to me. i had someone in there who would write down every time i made a decision and he would log it into a private journal that we kept of every decision that was happening during the war. if it had not been
. >> did the pentagon have review? >> no, didn't have fop once i'm retired from active due any i don't have to submit it to the pentagon unless i use classified information. so i avoided using any classified information but a lot of stuff was declassified right after the war. a lot of stuff was a matter of public record. so i had a great deal of material. the best thing i had was this, any war i ever fought most of instructions were sent by message back and forth. so you have hard...
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Dec 23, 2012
12/12
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FOXNEWSW
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and you know, i have made a study of different coverups, the pentagon papers, watergate and iran contra. i have never seen anything -- this is probably the greatest coverup in my memory anyway. >> judge jeanine: senator inhofe, hopefully we will get more specific answers and we thank you so much for being with us this evening. >> thank you, judge. go get them. >> judge jeanine: they call it the accountability review board. exactly who is accountable? with me is former federal judge and united states attorney general for whom i always had a great deal of respect, michael mukasey. according to the report, no one breached their duty. no one is responsible. no identification of any one responsible for a failure. the only person identified as making any decision is the ambassador. what does that tell you? >> tells me that somebody deeply doesn't want to discuss who is responsible. what the report says in essence is mistakes were made but nobody who is still alive made them and that doesn't sound like a reasonable conclusion to me. >> judge jeanine: one of the things i was taken by was the wo
and you know, i have made a study of different coverups, the pentagon papers, watergate and iran contra. i have never seen anything -- this is probably the greatest coverup in my memory anyway. >> judge jeanine: senator inhofe, hopefully we will get more specific answers and we thank you so much for being with us this evening. >> thank you, judge. go get them. >> judge jeanine: they call it the accountability review board. exactly who is accountable? with me is former federal...
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Dec 23, 2012
12/12
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CSPAN
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we are working with the pentagon to send additional marines. we are aligning our resources toward budget requests to address physical vulnerabilities. let me add that we might need your help in ensuring that we have the authority to streamline the usual processes that produce aster results. we are seeking to hire more than 150 additional diplomatic security personnel. that is an increase of about 5%. the recommendation is that we will target them squarely in high threat posts. i want to second the praise for these security professionals. i have served in this department for two years having come to the private sector. i have traveled to places like iraq and afghanistan. i have seen firsthand how these dedicated men and women risk their lives every day. we owe them gratitude as they go to work every day. we are updating our procedures to increase a number of experienced and well-trained staff serving at those posts. we are working to make sure that the state department makes decisions about where people operate and where they share responsibilit
we are working with the pentagon to send additional marines. we are aligning our resources toward budget requests to address physical vulnerabilities. let me add that we might need your help in ensuring that we have the authority to streamline the usual processes that produce aster results. we are seeking to hire more than 150 additional diplomatic security personnel. that is an increase of about 5%. the recommendation is that we will target them squarely in high threat posts. i want to second...
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Dec 23, 2012
12/12
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CNNW
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ample cooperation of kathryn bigelow and other administration, received from the white house and the pentagon, documented in the e-mails that have come out, do you think that maybe unmaliced the film a little bit or compromised the independence. >> the obama administration comes off, if anything, poorly with this. the one scene with the president his view on torture comes off prissy and only appears in the cameo in the background in a "60 minutes" interview. >> you have written there's a theory that screen writer fell in love with his cia sources and embraced their perspective wholeheartedly. explain. >> well, i mean from what i gather, i think that's true. and in a peculiar way, this is sort of a feminist movie in that he put a lot of their feelings into the character of this woman who actually, whose role in the story is to drive the men to be more decisive, to be, if you will, more macho, take a chance, take risks, take this sfrmg.o.b down and not do this probability stuff. >> i'm going to make a prediction, this film is going to do very well given the avalanche of publicity even before it
ample cooperation of kathryn bigelow and other administration, received from the white house and the pentagon, documented in the e-mails that have come out, do you think that maybe unmaliced the film a little bit or compromised the independence. >> the obama administration comes off, if anything, poorly with this. the one scene with the president his view on torture comes off prissy and only appears in the cameo in the background in a "60 minutes" interview. >> you have...
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Dec 26, 2012
12/12
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CSPAN
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by contrast, the international affairs budget is less than one-tenth of the pentagon's. secretary gates has spoken about this and strongly urged the congress to address that imbalance. we have not yet. admiral mullen pointed out, the more diplomacy is cut, the more lives are lost. we have to make certain that we are not penny-wise and pound-foolish when it comes to supporting americas vital overseas interests. adequately funding foreign-policy initiatives is not spending, but investing in our long-term security, and more often or not, it saves far more expensive expenditures in dollars and lives in the conflicts that we fail to see or avoid. we need to invest in america's long-term interest in order to do the job of diplomacy in a dangerous world. this report makes that crystal clear. since 1985, i have had the privilege of making official journeys to one trouble spot or another. i have met a lot of our men and women in the foreign services. we sat and talked about the work they do and the lives that they lead. they spent years learning the languages of the country so th
by contrast, the international affairs budget is less than one-tenth of the pentagon's. secretary gates has spoken about this and strongly urged the congress to address that imbalance. we have not yet. admiral mullen pointed out, the more diplomacy is cut, the more lives are lost. we have to make certain that we are not penny-wise and pound-foolish when it comes to supporting americas vital overseas interests. adequately funding foreign-policy initiatives is not spending, but investing in our...
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147
Dec 25, 2012
12/12
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CSPAN
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eye 147
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so we had a pentagon lie ace son. it got to the point we said we need a couple of f-16s they said sure. it got great. a lot of production value where it came. i think obviously they thought their public affairs and their public image through that show -- >> at the you same token i was visited by the dean of west point a few years later when there was some cry that some investigators in iraq and in afghanistan were being influenced by the content of the show and that their interrogation techniques were being informed by -- >> let me ask a question or finish your thought. >> no, i'll go back to it. >> i ask the question on the issue of terism in this country, "homeland" and "24" may or may not have had an affect on it. torture is a very, very prominent component of the show. and to what extent do you think that film and that show entered into the debate particularly under the bush administration? >> i think in "24" there was no -- the idea and it was promoted in certain articles and i think there was a con flation of po
so we had a pentagon lie ace son. it got to the point we said we need a couple of f-16s they said sure. it got great. a lot of production value where it came. i think obviously they thought their public affairs and their public image through that show -- >> at the you same token i was visited by the dean of west point a few years later when there was some cry that some investigators in iraq and in afghanistan were being influenced by the content of the show and that their interrogation...
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Dec 24, 2012
12/12
by
CSPAN
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be on the pentagon fell apart -- it is not a philanthropic act on the pentagon's part. the united states federal government -- unless europe is dollar rise, unless they do not have dollars to spend purchasing the net exports of those who have surpluses, then they will stop having surplus. this is the surplus recycling mechanism. thus, we have the 20 years of the golden age. a period of immense stability very low inflation. universal growth. we had other problems. the lease from the macroeconomic point of view, it was a golden age. why is that? because the global surplus of recycling mechanism was sustained. why? because the united states stopped having a surplus by the end of the 1960's. how can you recycle surplus if you cannot have it. well, paul volcker -- been named may ring a bell. in 1971, paul volcker was an unknown working for another american. henry kissinger, who you may have heard of. before he became secretary of state. volcker's paper, which are when i read a few years ago, i thought it was the most remarkable document ever to emerge from washington in the
be on the pentagon fell apart -- it is not a philanthropic act on the pentagon's part. the united states federal government -- unless europe is dollar rise, unless they do not have dollars to spend purchasing the net exports of those who have surpluses, then they will stop having surplus. this is the surplus recycling mechanism. thus, we have the 20 years of the golden age. a period of immense stability very low inflation. universal growth. we had other problems. the lease from the...
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Dec 22, 2012
12/12
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KTVU
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the cia, pentagon and senators have all been critical of scene that show hard interrogation techniques of suspected terrorists. they say information gained by torture did not lead to the capture and killing of bin laden. >> it's official now. mickey mouse is darth vader's boss. the deal is done. disney paid $4 billion in cash and stocks for the production company. sky walker sound, special effects company, industrial light and magic as well as video game maker lucas arts. >> anyone who loves to spend time at san francisco -- will want to make a visit. the museum is moving to pier15. the last day is going to be in it's current location on lion street will be january 2nd. it does as you may imagine take a lot of time to relocate so many exhibits so it'll not reopen in its new home until april 17th. >>> and it's already a happy holiday season for the oakland zoo, a donor gave them a million dollars. there are no restrictions on it. zoo executives call it is greatist gift they have ever received. it's especially welcome after last month's election when voters rejected a parcel tax to help
the cia, pentagon and senators have all been critical of scene that show hard interrogation techniques of suspected terrorists. they say information gained by torture did not lead to the capture and killing of bin laden. >> it's official now. mickey mouse is darth vader's boss. the deal is done. disney paid $4 billion in cash and stocks for the production company. sky walker sound, special effects company, industrial light and magic as well as video game maker lucas arts. >> anyone...
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146
Dec 22, 2012
12/12
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MSNBCW
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eye 146
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one of the biggest trouble ace head no matter who the nominee is for secretary of defense will be the pentagon budget. can the military survive the spending cuts as they stand the fiscal cliff? >> if the fiscal cliff goes into -- goes into effect as of january -- initial january 2, it will be in effect. if that goes into effect on that day there will be serious cuts that will be mandated and affect the national security and it is -- exactly the wrong thing to be doing. as i indicated before, there are cuts that can be made in the defense budget. they have to be managed properly and not simply across board-type of arbitrary slashing of that budget. i think that will endanger our security and we can make further cuts. it has to be done prudently and with discussion and wisdom. i don't think that's the congress should take or wants to take. unfortunately, there aren't enough people up there willing to back away and do the right thing under the circumstances. yes, it will be a hardship and one this country should not have to endure. >> all right. thank you, mr. secretary. great to see and you appr
one of the biggest trouble ace head no matter who the nominee is for secretary of defense will be the pentagon budget. can the military survive the spending cuts as they stand the fiscal cliff? >> if the fiscal cliff goes into -- goes into effect as of january -- initial january 2, it will be in effect. if that goes into effect on that day there will be serious cuts that will be mandated and affect the national security and it is -- exactly the wrong thing to be doing. as i indicated...
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119
Dec 25, 2012
12/12
by
CSPAN
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eye 119
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so we had a pentagon lie ace son. it got to the point we said we need a couple of f-16s they said sure. it got great. a lot of production value where it came. i think obviously they thought their public affairs and their public image through that show -- >> at the you same token i was visited by the dean of west point a few years later when there was some cry that some investigators in iraq and in afghanistan were being influenced by the content of the show and that their interrogation techniques were being informed by -- >> let me ask a question or finish your thought. >> no, i'll go back to it. >> i ask the question on the issue of terrorism in this country, "homeland" and "24" may or may not have had an affect on it. torture is a very, very prominent component of the show. and to what extent do you think that film and that show entered into the debate particularly under the bush administration? >> i think in "24" there was no -- the idea and it was promoted in certain articles and i think there was a conflation of
so we had a pentagon lie ace son. it got to the point we said we need a couple of f-16s they said sure. it got great. a lot of production value where it came. i think obviously they thought their public affairs and their public image through that show -- >> at the you same token i was visited by the dean of west point a few years later when there was some cry that some investigators in iraq and in afghanistan were being influenced by the content of the show and that their interrogation...
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110
Dec 27, 2012
12/12
by
CSPAN
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eye 110
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when they go to washington, it is not a philanthropic act on the pentagon's part. the united states federal government -- unless europe is dollar rise, unless they do not have dollars to spend purchasing the net exports of those who have surpluses, then they will stop having surplus. this is the surplus recycling mechanism. thus, we have the 20 years of the golden age. a period of immense stability very low inflation. universal growth. we had other problems. the lease from the macroeconomic point of view, it was a golden age. why is that? because the global surplus of recycling mechanism was sustained. why? because the united states stopped having a surplus by the end of the 1960's. how can you recycle surplus if you cannot have it. well, paul volcker -- been named may ring a bell. in 1971, paul volcker was an unknown working for another american. henry kissinger, who you may have heard of. before he became secretary of state. whener's paper, which are i read a few years ago, i thought it was the most remarkable document ever to emerge from washington in the last f
when they go to washington, it is not a philanthropic act on the pentagon's part. the united states federal government -- unless europe is dollar rise, unless they do not have dollars to spend purchasing the net exports of those who have surpluses, then they will stop having surplus. this is the surplus recycling mechanism. thus, we have the 20 years of the golden age. a period of immense stability very low inflation. universal growth. we had other problems. the lease from the macroeconomic...